Schwab Charles Investment Management Inc. Boosts Position in Arthur J. Gallagher & Co. (AJG)

Schwab Charles Investment Management Inc. raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.0% during the first quarter, Holdings Channel reports. The institutional investor owned 739,264 shares of the financial services provider’s stock after buying an additional 35,497 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $41,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $9,462,000. ING Groep NV raised its position in shares of Arthur J. Gallagher & Co. by 55.8% in the fourth quarter. ING Groep NV now owns 10,251 shares of the financial services provider’s stock worth $531,000 after buying an additional 3,671 shares in the last quarter. State Street Corp raised its position in shares of Arthur J. Gallagher & Co. by 8.9% in the fourth quarter. State Street Corp now owns 8,741,017 shares of the financial services provider’s stock worth $454,188,000 after buying an additional 711,975 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Arthur J. Gallagher & Co. by 21.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,383 shares of the financial services provider’s stock worth $332,000 after buying an additional 1,136 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Arthur J. Gallagher & Co. by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,200 shares of the financial services provider’s stock worth $530,000 after buying an additional 89 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

Shares of Arthur J. Gallagher & Co. (AJG) traded up 0.27% on Friday, hitting $58.97. The company had a trading volume of 1,256,078 shares. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 24.93 and a beta of 1.18. Arthur J. Gallagher & Co. has a 12-month low of $43.90 and a 12-month high of $59.03. The company has a 50 day moving average of $56.39 and a 200-day moving average of $54.84.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Arthur J. Gallagher & Co. had a net margin of 7.42% and a return on equity of 13.56%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company posted $0.34 EPS. Arthur J. Gallagher & Co.’s revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Arthur J. Gallagher & Co. will post $3.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Wednesday, May 31st. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 65.82%.

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AJG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, March 29th. Citigroup Inc. increased their price target on Arthur J. Gallagher & Co. from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, April 7th. Wells Fargo & Company reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, April 27th. Royal Bank of Canada reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, April 28th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.86.

In other news, Director Frank E. Jr. English sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $58.49, for a total transaction of $58,490.00. Following the transaction, the director now directly owns 12,100 shares in the company, valued at approximately $707,729. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Susan E. Pietrucha sold 4,133 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $56.06, for a total transaction of $231,695.98. Following the transaction, the insider now owns 112 shares in the company, valued at $6,278.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,897 shares of company stock worth $729,551. 1.60% of the stock is currently owned by corporate insiders.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG).

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